THE Securities and Exchange Commission (SEC) and the Department of Education (DepEd) will promote investor education and financial literacy to students and teachers in an initiative to protect the public from falling prey to money scams.

On October 10, the SEC and DepEd signed a memorandum of agreement to include smart financing and investment knowledge to the DepEd curriculum.

"Currently, the SEC administers webinars covering a wide range of financial topics, from becoming an agent in the capital market to managing finances and identifying investment scams," SEC chairman Emilio Aquino said, adding the agency can do more by introducing financial literacy to the youth.

"If we want a bountiful harvest, we must first plant and nurture the seeds," Aquino explained, "and for this, we seek the assistance of DepEd."

DepEd, for its part, will develop SEC information into learning materials in a classroom setting.

"Ultimately, we want to equip our students and teachers with the knowledge and skills to save, manage and invest [money] effectively," Aquino added.

In the agreement, the SEC will also educate teachers how to identify, avoid and report illegal investment schemes.

The country's corporate regulator will provide DepEd a list of corporations and entities that have been found engaging in fraudulent activities. The SEC is also pushing for the approval of the Capital Market Development Act to provide a legislative basis for the inclusion of SEC learning materials in the DepEd curriculum.

"A more financially literate public will be better positioned to build a secure future, while avoiding the financial pitfalls and scams that have become increasingly prevalent," Aquino said.

DepEd is the latest agency to join the SEC's campaign, advocacy and network initiative.

The program — which is part of the SEC Capital Market Promotion and Awareness Inter-Agency Network — aims to promote financial literacy in the country through partnerships with public and private organizations.

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